Category Archives: Wall Street

What makes Sammy run?

Posted on March 14, 2011 by David McKee

Scarcely was the ink dry on Sahara owner Sammy “The Naz” Nazarian‘s announcement of the property’s May 16 closure than rumors began to fly about his endgame for the old gal. At S&G, we’re pretty certain that “The Naz” (™ … Continue reading →

Posted in Alex Yemenidjian, Boyd Gaming, California, Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Economy, Fontainebleau, Herbst Gaming, M Resort, Marketing, MGM Mirage, Penn National, Regulation, Riviera, Sahara, Sheldon Adelson, Tamares Group, The Strip, Tourism, Tropicana Entertainment, TV, Wall Street | 9 Comments

R.I.P., Sahara (1952-2011)

Posted on March 11, 2011 by David McKee

Once the Riviera changed hands, the Strip casino for whom mortality seemed most imminent became the Sahara. The ‘death by a thousand cuts’ regime of nightclub impresario and absentee owner Sam Nazarian bled the place to the extent that there … Continue reading →

Posted in Boyd Gaming, CityCenter, Colony Capital, Columbia Sussex, Current, Dining, Economy, Entertainment, Fontainebleau, Goldman Sachs, history, International, James Packer, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pansy Ho, Plaza, Regulation, Riviera, Sahara, Stanley Ho, Station Casinos, The Strip, Tourism, Transportation, TV, Wall Street | 10 Comments

Station, Greenspuns part company

Posted on March 10, 2011 by David McKee

For quite a while the relationship between Station Casinos and Greenspun Corp. has been in the “Can This Marriage Be Saved?” category, as the two bickered over the ownership and management of their casino joint ventures. Today they’re Splitsville and … Continue reading →

Posted in Boulder Strip, Current, Entertainment, Harrah's, Marketing, North Las Vegas, Penn National, Station Casinos, Wall Street | 1 Comment

Vegas in January: Dazed and confusing

Posted on March 10, 2011 by David McKee

It’s not as though there aren’t signs of hope for the Nevada economy. And even as empty storefronts continue to proliferate and housing prices tank in Las Vegas, there’s a “green shoot” or two, if you look for them. The … Continue reading →

Posted in Boulder Strip, Cosmopolitan, Current, Downtown, Economy, history, IGT, Lake Tahoe, North Las Vegas, Regulation, Sheldon Adelson, Taxes, The Strip, Tourism, Transportation, Wall Street | 3 Comments

Wynn hearts Pinnacle; Harrah’s demands aesthetic restraint

Posted on March 9, 2011 by David McKee

Now that former Mirage Resorts CFO Dan Lee is long gone from Pinnacle Entertainment, too, former Lee boss Steve Wynn seems to have changed his opinion about Pinnacle. While I (erroneously) thought that Pinnacle CEO Anthony Sanfilippo‘s erstwhile ties to … Continue reading →

Posted in Architecture, Atlantic City, Current, Dan Lee, Harrah's, Indiana, Internet gambling, Isle of Capri, Louisiana, Marketing, Missouri, Penn National, Pinnacle Entertainment, Planet Hollywood, Regulation, Steve Wynn, The Strip, Tourism, Wall Street | 1 Comment

“V”

Posted on March 8, 2011 by David McKee

That’s about the extent and substance of the campaign of Las Vegas mayoral aspirant Victor Chaltiel, a suddenly ubiquitous, Peter Lorre-like figure who has manifested himself as major civic figure as suddenly as if he’d been beamed down from space. … Continue reading →

Posted in Archon Corp., Boyd Gaming, Current, Don Barden, Downtown, Economy, Harrah's, International, Marketing, North Las Vegas, Pennsylvania, Politics, Station Casinos, The Strip, TV, Wall Street | 4 Comments

Quote of the Day

Posted on March 7, 2011 by David McKee

“Still, would it surprise anyone to find out if this really was how business was conducted over there? Secret investigations of your enemies? Bribes? Kinda exactly how I imagine things might work when billions are on the line and your … Continue reading →

Posted in Current, International, Macau, Regulation, Sheldon Adelson, Wall Street | Comments Off on Quote of the Day

Warm February in Philly; “Lion King” hungry

Posted on March 3, 2011 by David McKee

After a pretty lackluster January, gaming revenues in Pennsylvania bounced back at the slots.  The statewide February average was a 10% increase year/year, with Sands Bethlehem right on that button ($22 million) and Harrah’s Chester Downs down 2% ($24 million). … Continue reading →

Posted in Cannery Casino Resorts, CityCenter, Current, Dining, Donald Trump, Economy, Entertainment, Harrah's, MGM Mirage, Neil Bluhm, Pennsylvania, Racinos, Sheldon Adelson, The Strip, Tourism, Wall Street | 2 Comments

HRH: When the Scheetz hit the fan

Posted on March 2, 2011 by David McKee

Thanks to the S&G reader who provided me with that ready-made headline. Yes, Morgans Hotel Group has closed the book on Scheetz’s Folly, the $770 million purchase of the Hard Rock Hotel & Casino. The Sun‘s Liz Benston lays out … Continue reading →

Posted in Boyd Gaming, Current, Golden Gaming, International, James Packer, Kansas, Morgans Hotel Group, The Strip, Wall Street | 3 Comments

Power shift at Ameristar

Posted on February 28, 2011 by David McKee

No longer will the Craig H. Neilsen Foundation be calling the shots at Ameristar Casinos. The financial needs of the nonprofit have led Ameristar Chairman Ray Neilsen to liquidate 83% of the foundation’s stake in ASCA for an above-market $17.50. … Continue reading →

Posted in Ameristar, Boyd Gaming, Harrah's, Indiana, Kansas, Marketing, Missouri, Penn National, Planet Hollywood, The Strip, Transportation, Wall Street | 4 Comments

Hard Rock: End of a (bad) era

Posted on February 25, 2011 by David McKee

Scheetz’s Folly, otherwise known as the Hard Rock Hotel & Casino, will soon be in new hands. After several addled years under Morgans Hotel Group, whose bright ideas included “building a hotel suite with an S&M theme and a human … Continue reading →

Posted in Boyd Gaming, California, Current, Morgans Hotel Group, Station Casinos, The Strip, Wall Street, Warner Gaming | 2 Comments

Hooters in default; Rio robbed; Morgans out, Warner in?

Posted on February 24, 2011 by David McKee

From the “Could mean something, could mean nothing” File comes a Notice of Default, filed by the Bank of New York against Hooters Casino Hotel. The lenders are calling in a $130 million note on the 332-room hotel (arguably making … Continue reading →

Posted in Current, Detroit, Downtown, Economy, Entertainment, Harrah's, Harry Reid, Massachusetts, Morgans Hotel Group, Station Casinos, Tamares Group, Technology, The Strip, Tribal, TV, Wall Street | 2 Comments

Dan Lee’s revenge & comeuppance for Penn in Louisiana

Posted on February 17, 2011 by David McKee

While the casino industry suffers no shortage of big egos, Penn National Gaming CEO Peter Carlino zooms past that, heading full speed toward arrogance. When not trying to use the political process to sandbag its competitors, Penn occasionally builds casinos. … Continue reading →

Posted in Atlantic City, Current, Dan Lee, Economy, Kansas, Louisiana, M Resort, Missouri, Ohio, Penn National, Pinnacle Entertainment, Regulation, Texas, Wall Street | 9 Comments

Las Vegas Sands: Who’s minding the store?

Posted on February 15, 2011 by David McKee

Investors would do well to ask that, not least because of CEO Sheldon Adelson‘s attitude of, ‘The buck stops here … except when it doesn’t.’ To hear Adelson tell it, everything that goes awry at Las Vegas Sands and Sands … Continue reading →

Posted in Cirque du Soleil, Current, Genting, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Politics, Regulation, Sheldon Adelson, Singapore, Sports, Stanley Ho, Station Casinos, Steve Wynn, Technology, The Mob, Tourism, Wall Street | Comments Off on Las Vegas Sands: Who’s minding the store?

Gary Loveman … visionary?

Posted on February 15, 2011 by David McKee

At the risk of pumping additional hydrogen into his already zeppelin-sized ego, allow me to suggest that Caesars Entertainment CEO Gary Loveman, PhD. is actually onto something. But first would somebody clue him in that there has been casino gambling … Continue reading →

Posted in Architecture, Current, Economy, Entertainment, Florida, G2E, Harrah's, Jack Binion, Marketing, Neil Bluhm, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Slot routes, Taxes, The Mob, The Strip, Tourism, Tropicana Entertainment, Wall Street | 2 Comments

Hard Rock: Oh no!; Bellago bandit busted

Posted on February 3, 2011 by David McKee

Is there anybody who could probably run the Hard Rock Hotel & Casino worse than hapless Morgans Hotel Group? We may soon find out as Navegante Group has been announced as operator-to-be by NorthStar Realty Finance Corp. The latter, as … Continue reading →

Posted in Current, Detroit, Entertainment, Herbst Gaming, history, Macau, MGM Mirage, Morgans Hotel Group, Regulation, Riviera, Sahara, Stanley Ho, Steve Wynn, Tamares Group, The Strip, Wall Street | 6 Comments

Hard Rock in foreclosure

Posted on February 1, 2011 by David McKee

Update: Taken by surprise, the Hard Rock’s owners swung into action with a countersuit. If you’re in New York City next Monday and have a little “mad money” in your pocket, like a hundred grand or so, you have the … Continue reading →

Posted in Boyd Gaming, Current, Genting, Harrah's, International, MGM Mirage, Morgans Hotel Group, Pansy Ho, Regulation, The Strip, Tribal, TV, Wall Street | 9 Comments

Burnt out at Marina Bay Sands; Winners in Atlantic City

Posted on January 28, 2011 by David McKee

Another day, another Las Vegas Sands executive falls by the wayside. In the case of Marina Bay Sands, it sounds like CEO Thomas Arasi has been burned out in what must have been a pretty intense 18 months at the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Cordish Co., Current, Dennis Gomes, Donald Trump, Economy, Harrah's, IGT, International, Macau, Marketing, Maryland, Penn National, Politics, Racinos, Sheldon Adelson, Singapore, Tilman Fertitta, Tourism, Wall Street, WMS Industries | 3 Comments

This just in …

Posted on January 26, 2011 by David McKee

An Illinois court of appeals has struck down a pair of Public Acts pertaining to the state’s gambling industry. One nullifies a deal that would have farmed out the state lottery to Scientific Games (luckily, SGMS stock withstood the bad … Continue reading →

Posted in Architecture, CityCenter, Current, IGT, Illinois, MGM Mirage, New York, Regulation, Wall Street | 5 Comments

Dude, who stole my casinos?

Posted on January 25, 2011 by David McKee

Update: In yet another reversal, Stanley Ho says he has sacked his attorney and that the brouhaha over his stock is all a big misunderstanding. Stay tuned for further developments in what’s already a rapidly morphing narrative. Yesterday, aging (and … Continue reading →

Posted in Cosmopolitan, Current, Harrah's, International, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Problem gambling, Regulation, Stanley Ho, The Strip, Wall Street | 1 Comment